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Latest Stable Nxt Client: Nxt 1.12.2

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Topics - v39453

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Account Control / Microtransactions and other use cases
« on: March 08, 2015, 12:53:24 pm »
From the wiki: "Allowing accounts to only send coins to a specified account"

I wonder if the following use cases are possible. They depend on there being no way to override or cancel this "lock".

1. Microtransactions. I lock one of my accounts to a payment processor's account for a month. Every time I buy something, I sign and send a transaction directly to the payment processor without broadcasting it. This transaction is always the sum of all my purchases up to that point. The payment processor stores the last transaction I send, and broadcasts it at the end of the month, paying only one fee.

2. Cross chain transactions. I have accounts A and A' on different chains, my counterparty has accounts B and B'. I lock account A to B and my counterparty locks B' to A'. I sign a small transaction from A to B without broadcasting it  and send it to my counterparty, who signs a small transaction from B' to A' and sends it to me. This continues with small increments to the amounts until the whole sum is covered, at which point both parties broadcast the  last transaction they have received.

3. Contract for difference without counterparty risk (contracts are for USD, gold, Apple stock or anything else). I lock my account A to B, who provides a CFD service, and B locks his account B2 to my account A2. Wins/losses are settled between the parties once a minute by signing transactions without broadcasting them. One practical application would be to lock the USD value of my NXT holdings by short selling. Skycoin developer talks about something similar in "Continuous Settlement and Clearing" here:

General / Stealth address
« on: May 02, 2014, 12:47:05 pm »
Somebody please correct me if I'm wrong.

Stealth addresses for Bitcoin allow to generate an anonymous payment address if the payer can send some extra data to the receiver. This would work for Nxt also?

How about this?

Receiver declares that he can receive stealth payments to sending himself a message in some standardized format.

Payer sends a message in a standardized format, with the extra data, to a well-known address (not the receiver's address) encrypted with curve25519/AES, and sends the coins to the stealth address.

Only the receiver can open the message. Nobody else knows to whom the payment went to.

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